Thursday, January 9, 2014

Overstock.com Embraces BitCoin...

Well BitCoin has been growing daily. Which isn't to say that its more valuable. Speculators and various other issues have continued to drive the value of a BitCoin up and down like a pogo.

Despite that more and more locations are accepting BitCoin. Today saw the biggest retailer yet jump on board. The publicly traded, $700MM (market cap) Overstock.com began accepting BitCoins for anything you want to buy on their site. This isn't too much of a surprise given its CEO had announced a few months back that it would begin doing so at some point in '14. It is a surprise that it happened this quickly. As more and more CEOs and founder in Silicon Valley express their libertarian leanings I think you will see a snowballing acceptance of BitCoin. My bets on the next big companies to accept the cryptocurrency?? Uber or AirBnB.

So...make sure to get paid for the paintings you stole from the Isabella Stewart Gardner Museum in BitCoins and then head over to Overstock.com and pick yourself up a couch or some new linens.

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